“Madfouat” is the national Electronic Bill Presentment and Payment service provider. The primary function of Madfouat is to be a central entity connecting all banks and billers in the country to an integrated infrastructure. Madfouat provides a mechanism to handle all payment transactions for periodic bills (water, electricity, fixed-line phone…etc) and one-time fees (traffic fines, taxes, air tickets… etc) through all channels of operating banks in Syria.
The citizens and the residents benefit from Madfouat in several respects:.
- Possibility of making payments independently of time and place;
- Reduced costs and savings in effort and time;
- Reducing service interruption due to late payment;
- Highly reliable and safe
- Reducing cash circulation
- Bill presentment and payment in one place.
Billers can expect a major improvement in customer services and the process of bill collection and reconciliation, as billers will benefit from Madfouat in the following respects:
- Decrease in capital expenditure due to lower infrastructure spending
- Decreased in operating expenses (human resources, paper, electricity, etc.)
- Dealing with a single point of contact instead of establishing a separate points of contact with each bank separately
- Lower costs for reconciliation and settlement procedures
- Maintaining confidentiality and privacy of citizens’ data by linking to a highly reliable system.
Banks benefit from Madfouat in several respects:
- Reducing the cost of collection, reconciliation and remedial of invoices
- One point of contact instead of linking to each biller
- Reducing direct dealing with billing sectors and providing better/developed customer services
- Reducing customer service representatives and bank employees needed for bill payment and their reconciliation
- Provide a centralized system for electronically viewing and paying bills, fees, taxes, etc.
- Facilitate and expedite the process of paying bills and fees through operating bank channels.